New Jersey town reveals staggering $26M theft days after election, sparking backlash

A New Jersey township is facing backlash after officials revealed that $26 million was stolen in a fraudulent wire transfer, with residents questioning why the massive theft wasn't disclosed until more than five weeks later — just days after Election Day.

Cranbury Township Mayor Lisa Knierim announced Friday that the municipality had been the victim of a "sophisticated financial theft" involving approximately $26 million.

Knierim, a Democrat, said the fraudulent wire transfer took place on Sept. 28, with the funds originally designated for purchasing property to meet the township's affordable housing obligations.

A task force involving local, county, state and federal law enforcement agencies, led by the township's police department and the Middlesex County Prosecutor's Office, is working to recover the funds, according to the mayor's statement.

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Cranbury Township officials disclosed a $26 million fraudulent wire transfer on Nov. 6, more than five weeks after the theft occurred and three days after Election Day. (Google Maps)

So far, investigators have frozen nearly $17.3 million in assets, leaving approximately $8.7 million outside the reported freeze.

The township said the investigation remains active, adding that additional details cannot be released.

Knierim's announcement came Nov. 6, three days after the midterm elections and more than five weeks after the theft.

Several residents responded to the announcement on the township's Facebook page, questioning the timing of the disclosure and demanding greater transparency from local officials.

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Democrats retained control of the Cranbury Township Committee following an election held three days before officials publicly disclosed a $26 million financial theft. (Kena Betancur/Getty Images)

"I'm interested in knowing why this information was kept under wraps until after Election Day," one commenter wrote.

Another asked, "If this occurred on September 28th why is it just now being shared?"

The announcement followed Tuesday's local election, in which Democrat Thomas Szczur Jr. defeated Republican Carol Haring with 63.69% of the vote to Haring's 36.32%, according to election results published by the New Jersey secretary of state's office. 

Szczur's victory preserved Democrats' control of all five seats on the Cranbury Township Committee.

The mayor acknowledged residents' concerns in her statement.

"We recognize that news of this magnitude will understandably raise questions and concerns among our residents," Knierim wrote. "Those concerns are legitimate, and we take them seriously."

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A New Jersey township is facing questions from residents after officials revealed that approximately $26 million intended for affordable housing-related property purchases had been stolen. (Mario Tama/Getty Images)

Knierim also said the township was taking steps to strengthen financial oversight and maintain municipal operations, noting that the Township Committee plans to introduce ordinances Monday to establish two new positions: assistant township administrator and assistant chief financial officer.

The committee also plans to consider hiring a municipal accounting firm for additional financial consulting support, while officials work with insurance carriers to explore potential recovery options.

It remains unclear why the township waited more than five weeks to publicly disclose the theft.

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Fox News Digital has reached out to the mayor's office for additional comment.